The agreement provides "maximum flexibility" to Renaissance while ensuring the city is protected, said Edward Krawiecki, Jr, the city attorney.
After the signing of the deal, slated for Tuesday morning at 10 a.m., Renaissance bears the responsibility for doing all the studies associated with the property.
And now, 40 minutes into the meeting, the council weighs in...
"Great job," said city Councilor Cliff Block.
"Job well done. I think the agreement came out very nice," said city Councilor Kevin Fuller.
"We're not in the developing business here. We're in the government business," Krawiecki said.
City Councilor Kate Matthews said that keeping the council updated in executive sessions has been useful.
"It really is quite a contract to try to read," Matthews said.
City Councilor Ken Cockayne asked when Renaissance will open its City Hall office.
Krawiecki said the city is looking at its space. The contract said it has to be open within 90 days, Krawiecki said, with staff here, not just a kiosk.
Cockayne said he "heard it getting a little heated" during some closed-door sessions in recent months.
City Council Kevin McCauley said the contract answers most questions. It is detailed, he said, and understandable.
Mayor Art Ward calls for public participation now...
Tom Cosgrove, who is vice chairman of the Bristol Downtown Development Corp., said that after three years of meetings, the council and mayor "were very helpful to our commission while we did our work."
Cosgrove said that city officials have been helpful all along, which bodes well for Monti.
"The city of Bristold can be very proud of its government and its politicians and its commissions," Cosgrove said.
Ward said that he is proud of the BDDC's work. He pointed out he was the last holdout for creating it, but has seen it approach the deal well.
Gardner Wright, another BDDC commissioner, said there may be concerns that it will take two or three years to have things happen. But, he said, given the economy, the deal has "relatively short timeframes" for Monti to get things in place.
"We have a good plan, a good project," Wright said.
And that's it for audience comment.
McCauley said there will be new councilors over the time of the deal. That does help assure the process continues.
Ward said he got an email from former Mayor William Stortz with many questions, most of which have been answered tonight. He said he would send Stortz a written response.
The mayor thanked Monti "for having the faith in the city of Bristol."
Monti is now at the podium, thanking the BDDC, the mayor and council.
"This has been a very professional and a very thorough process," Monti said. He said in 35 years of developing, he sees a need to commend everyone.
"We are all very excited," Monti said.
Monti said that after 120 days of negotiations, he is "even more excited" because there are some great things afoot.
"Bristol is about to create something here that is going to be recognized across the country," Monti said.
"I look forward with much enthusiasm to living up to your vote of confidence," Monti said.
And now, a unanimous vote to approve the deal.
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